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NM SB93
Bill
Status
Introduced
1/22/2026
Primary Sponsor
Crystal Diamond Brantley
Click for details
AI Summary
- Creates a corporate income tax credit equal to 50% of qualified railroad infrastructure expenditures for taxable years prior to January 1, 2036
- Caps the credit at $5,000 per mile of track owned or leased for reconstruction/replacement expenditures, and $1,000,000 per new rail-served customer project for new infrastructure expenditures
- Limits total annual credits certified statewide to $6,000,000, with applications processed in order received
- Allows credits to be sold, exchanged, or transferred to other taxpayers, with excess credits carried forward up to five years (no refunds)
- Applies to class two and class three railroads and owners/lessees of rail sidings, yard tracks, and industrial spurs in New Mexico
Legislative Description
Rail Infrastructure Tax Credit
Last Action
SCC: Reported by committee to fall within the purview of a 30 day session
1/23/2026
Committee Referrals
Committees1/22/2026
Full Bill Text
No bill text available